In December 2016 Monsanto shareholders voted in favour of the sale of the company to Bayer for US$66 billion, making it the largest-ever foreign corporate takeover by a German company.
Both Bayer and Monsanto are major global manufacturers of agrochemicals and seeds, including genetically modified seed. A merged entity would be the world’s largest supplier by sales of both seeds and pesticides, controlling 29 percent of the world’s commercial seed markets and 24 percent of the world’s pesticide markets. Bayer and Monsanto are major actors in South Africa’s seed and agrochemical industries. The deal will require approval from about 30 regulatory agencies around the world, including by South Africa’s Competition Commission.